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Piercing Pattern Candlestick Chart
The piercing pattern candlestick chart is a two day price action pattern. It is created after one large down black or red candlestick followed by one large up white or green candlestick that opens below the low of the preceding candlestick but closes over halfway up into the previous black bearish body candlestick. This candlestick pattern is considered as a reversal signal when it appears near the bottom of an existing downtrend. The piercing pattern happens during two days when the first candle is created by bearish lower prices and then the second candle takes prices first lower than the previous day but then ... (full story)
